The FTX massive strikes caused the crypto economy to nosedive causing an increase in fear of other turmoil in the sector. This has led to huge calls of withdrawing crypto assets from centralised exchanges. The reaction to these community calls has been massive, with an increase in the volume of self-custody wallets, where rapper Drake leads the charge on self-custody - read more on decrypt.

These headlines like:

- The Wild West of Crypto Claims Yet Another Victim -bloomberg.com

- Binance Users Withdrew $1.35Bof Bitcoin following FTX Collapse -coindesk.com

- Binance: The Real Winner of The FTX Collapse -seekingalpha.com

The above narratives are self-assured discussions with fervent support for the collapse of binance citing some criticisms. The wake-up call gets tense as Economist Nouriel Roubini slams crypto on stage in Abu Dhabi. Image video on this TikTok link. Though the image footage seems to be a staged scene where Nouriel Roubini highlights the 7Cs of crypto. Uhm, I don't know the meaning of 7Cs, could you help explain? That's just what I have learnt from the economist.

With numerous threats from the west about crypto regulation while major hits have been labelled on binance, it takes just a single call or video like the one above to cripple binance. Most crypto platforms have ties with founders' original backgrounds which raises calls for conflicting interests. 

With all the havoc these centralised platforms can cause to the bitcoin revolution, I am more than happy to remind you that, bitcoin alone will lead the future of finance because bitcoin does not have a CEO and is not affiliated in any geographical location. Everyone gets their own fair share of bitcoin. For the crippling centralised cryptos, Bitcoin has been 13 years after its creation and:

- still mine 10min per block
- still difficulty adjustment every 2016 blocks
- still 21M
- still SHA-256
- still 99.99% uptime
- still never hacked
- still open source
- still decentralized
- still immutable
- still growing

and still NO CEO ✅.

To that effect, we have seen the rise and fall of centralised protocols in this novel blockchain revolution stemming from the collapse of TerraUSD and LUNA to the bankrupt Celsius Network, Three Arrows Capital, Voyager Digital, FTX and FTX.US, BlockFi and numerous calls for some big market movers en mass like crypto lender Genesis.

Also, calls are being short about coinbase scandals one of the most preferred exchange for newbies.

Even tweets from the Binance CEO depict controversial concerns about the Nasdaq-listed exchange Coinbase.

Oh no, bro, coinbase is healthy and we going to make crypto great CZ tweets.

But if you can't leave without your favourite crypto companies, don't quit, they are still healthy enough to strive for a long time no matter the FUD in this post. The coinmarketcap data tracks healthy exchange volumes of exchanges around the world with binance topping the list.

Nonetheless, these crypto companies can all collapse, since they made most of their money by issuing unregulated securities to gullible customers. But with the standards of the bitcoin evolution, no single entity funded the revolution during its inception.  Buy bitcoin to secure the future of your own children, do not buy because you want to get rich. And, I am looking forward to seeing the future of Bitcoin no matter the economic downturn. These are my personal opinions.

Manipulations in the crypto world are common, the bigger players use what they have to get what they need. In the long run, they buy bitcoins at discounted prices. 

DISCLAIMER: This article is meant to create awareness and it should not be considered a piece of investment advice. As greedy as crypto is, I will never advise you to invest in crypto, always DYOR.

Thanks for investing your time in this article. If it helped you, I'd be grateful if you'd:

•Share the article so others find it too

•Follow me by smashing the button below

⏤ it encourages me to keep writing!

Affiliate Disclosure: Clicking on links on this post and performing a task will get me a kickback, you're indirectly supporting me and it doesn't affect your performance on the site.

Here is my Linktree with projects and tasks for my passive income bundle. I will be more than happy if you support me.

You may want to sign up for publish0x and join the publishing bundle.

Thumbnail Image source: telegram meme